1.1.................... moves to amend H.F. No. 12, the first engrossment, as follows:
1.2Page 4, after line 8, insert:

1.3    "Sec. 6. Minnesota Statutes 2010, section 275.08, subdivision 1b, is amended to read:
1.4    Subd. 1b. Computation of tax rates. The amounts certified to be levied against net
1.5tax capacity under section 275.07 by an individual local government unit shall be divided
1.6by the total net tax capacity of all taxable properties within the local government unit's
1.7taxing jurisdiction. For the purposes of this tax rate computation only, for jurisdictions
1.8containing properties enrolled under section 273.114, the total net tax capacity of those
1.9jurisdictions must be determined as if the valuation reduction under section 273.114,
1.10subdivision 3, did not occur. The resulting ratio, the local government's local tax rate,
1.11multiplied by each property's net tax capacity shall be each property's net tax capacity tax
1.12for that local government unit before reduction by any credits.
1.13Any amount certified to the county auditor to be levied against market value shall be
1.14divided by the total referendum market value of all taxable properties within the taxing
1.15district. The resulting ratio, the taxing district's new referendum tax rate, multiplied by
1.16each property's referendum market value shall be each property's new referendum tax
1.17before reduction by any credits. For the purposes of this subdivision, "referendum market
1.18value" means the market value as defined in section 126C.01, subdivision 3.
1.19EFFECTIVE DATE.This section is effective for taxes payable in 2012 and
1.21Renumber the sections in sequence and correct the internal references
1.22Amend the title accordingly